In the wake of Dick’s Sporting Goods’ acquisition of Foot Locker earlier this month, Dick’s Exec Chair Ed Stack used a Wednesday conference call with investors to “defend the move and push back against criticism.” Stack: “With the Foot Locker transaction, we see several opportunities. It really gives us a unique opportunity to strengthen our brand relationships through a global presence.” Dick’s shares “rose after the call and were up about” 2% as of 2:30pm ET Wednesday. Stack said Foot Locker and Dick’s “would continue to operate as separate companies,” with Dick’s previous growth plan “remaining intact and Foot Locker continuing its more recent efforts in remodeling stores, boosting online sales and cementing stronger partnerships with big sneaker brands.” When the deal closes, the combined company is “expected to have up to half of its total sales come from sneakers.” Dick’s President & CEO Lauren Hobart said on the call that the company’s finances “remain strong, despite ongoing uncertainty over tariffs and trade wars” (PITTSBURGH POST-GAZETTE, 5/28).
For 2025, Dick’s “continues to expect sales between” $13.6B and $13.9B “with comparable sales rising 1% to 3%.” Its outlook “accounts for the expected impact from all tariffs currently in effect.” Dick’s CFO Navdeep Gupta said the company “didn’t have any tariff-related impacts in the first quarter.” The company recorded net income of $264.3M for the first quarter ended May 3, compared to $275.3M in the prior-year period (WALL STREET JOURNAL, 5/28).
